The light, quick Opera browser is the fifth most used in the world behind Google Chrome, Apple's Safari, Mozilla Firefox and Microsoft's Internet Explorer.
The Opera board unanimously recommended the offer, saying that it represents a 56 per cent premium on the average price over the last 30 days.
The company had made no secret of its desire to find a buyer, and its shares were suspended on the Oslo stock exchange on Friday pending an announcement.
Large shareholders representing around 33 per cent of the company's shares have agreed to accept the offer, Opera said in its statement.
The web browser's use of centralised servers in its Opera Mini and Turbo products speeds-up data transfer by compressing images and text, "extending limited data plans and speeding up slow or unreliable networks", according to the Opera website's FAQs.
The use of centralised servers could also be a point to both choke or monitor communications, though current Opera browsers have the ability for this function to be switched off.
The Opera Mini browser for mobile phones and tablets garnered a little more than 7 per cent of the web traffic market in January, according to Net Market Share.
ABC Online
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